Remedy Entertainment Posts Strong Half-Year Financials, Provides Update On Upcoming Titles

The developer has a strong outlook going into the second half of the year.

Posted By | On 14th, Aug. 2020 Under News


remedy entertainment

Developer Remedy Entertainment has been around the block a few times, and crafted some truly special games. Coming to prominence with the Max Payne series, then moving on to the cult hit Alan Wake, and the recent Control that saw high critical acclaim, the company really has some hits. And thankfully, it seems as if they have a pretty strong outlook for the future as well. 

The company released their half-year financial report. In it the company reported 23% increased revenue compared to last year and 116% growth in operating profit. That puts them in a good position going into the final stretch of this year. They also offered an update on the long in development Vanguard, a multiplayer IP that has been talked about for a good while.

“The team working on Vanguard – a project also based on our own IP – has taken the game’s internally playable development version further, continuously evaluating, learning and adjusting the development. Some parts of the game show very good promise, some parts have been redesigned. We continue this iterative Vanguard-development with a mission to combine long-term service-based multiplayer experiences with Remedy’s unique game style. The game is developed with the Unreal 4 engine and the early phase work continues with a small team.”

That wasn’t the only game talked about, as they also went into detail about an unannounced game they have that will be published by Epic Games. It was announced earlier in the year that Epic had signed publishing deals with multiple developers, and while Remedy didn’t detail what that game was, they did give some insight into how the deal came to be and confirmed it was based on an IP created and owned by Remedy, very possibly the game they’ve mentioned they’re working on that is set in their shared universe.

“Our third unannounced project has proceeded well. We also have an additional smaller-scale project in development within the same franchise. Remedy had several good publisher candidates for the projects and we chose to sign a publishing deal with Epic Games. They were the best fit for these games, based on their experience as a developer, track-record of expanding into new areas of gaming business and ambition to take game publishing to a new level. As the publisher, Epic covers development and marketing costs. Once these costs are recouped from game sales, Remedy receives a 50% share of net revenue. Both projects are based on a game IP created and owned by Remedy, and we retain full creative freedom and ownership in this regard.”

Currently, we know Remedy is planning to release the last expansion for Control, AWE, later this month, as well Control Ultimate Edition that will see the game coming to Steam and consoles. They are also the developers of the CrossfireX campaign mode that will come to Xbox One and Xbox Series X later this year. Between that and the unannounced titles and whatever form Vanguard will take, the developer is a busy one.

 

 


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